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46 minutes ago, GravityGrave said:

JCH signed early on as did Matt smith if my memory serves 

Impressive memory, GG.  JCH was four years ago and Smith six years though; since then we seem to have made a point of leaving it late.

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6 minutes ago, HarryBosch said:

 

Again? How many years have some of you been saying this now? 

How many years can this loan keep going!   There is a wage cap you know! With lower crowds and more outgoings than us it's not feasible. Vaughan Beckford and Dawson will be on big wages along with Pope and others on decent contracts it's coming I'm telling you. 

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1 minute ago, adamoafc said:

How many years can this loan keep going!   There is a wage cap you know! With lower crowds and more outgoings than us it's not feasible. Vaughan Beckford and Dawson will be on big wages along with Pope and others on decent contracts it's coming I'm telling you. 

They seem to be going shit or bust next season for sure. They announced a loss of £2.5M for the last financial year and have a wage bill of £4M before this weeks signings (obviously some players will be leaving this summer but...) that has to be one of the higher wage bills in L1! And somehow they still managed to finish below us.

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According to the Bury website all three relegated Championship clubs were interested in Dawson so if they are paying more money than Blackburn and Wigan they must have really chucked the cash at him.

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27 minutes ago, OldHallam said:

Bury are on 150% interest apparently and the bubble will go BANG big style. Amazed getting away with it at moment. Long contracts and Lee Clark mmmm up or bust. 

they are showing "ambition " dontcha know something our board dont do according to some on here have they learned nothing from dirty leeds hocking there future earnings in the hunt for glory ?

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43 minutes ago, OldHallam said:

Bury are on 150% interest apparently 

 

They were - that was Cash4Assets wasn't it which has been settled. 

 

Has anything been reported about the rates on their current outstanding loans? 

 

https://beta.companieshouse.gov.uk/company/00053268/charges

 

 

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4 hours ago, HarryBosch said:

 

They were - that was Cash4Assets wasn't it which has been settled. 

 

Has anything been reported about the rates on their current outstanding loans? 

 

https://beta.companieshouse.gov.uk/company/00053268/charges

 

 

I don't think the biggest issue here is the loans that Bury FC have been taking out.  If those were getting out of hand  they'd be in breach of FFP and the football league wouldn't allow them to continue on this spending spree.

The main issue is the loans their owner is taking out in the names of his network of companies, which are secured against the ground and  gifted to the football club. By doing it this way he avoids the FFP restrictions.

I don't think anyone would argue that the football club alone could afford to pay the wages it pays from it's income.

The issue is that he can't currently afford this. If he could he wouldn't have to borrow the money at extortionate rates of interest. So he's gambling that either Bury get promoted quickly or his businesses  make a lot of money pretty quickly. One or both might happen, but if they don't he's in trouble and the ground will get repossessed. 

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10 hours ago, bozman said:

I don't think the biggest issue here is the loans that Bury FC have been taking out.  If those were getting out of hand  they'd be in breach of FFP and the football league wouldn't allow them to continue on this spending spree.

The main issue is the loans their owner is taking out in the names of his network of companies, which are secured against the ground and  gifted to the football club. By doing it this way he avoids the FFP restrictions.

I don't think anyone would argue that the football club alone could afford to pay the wages it pays from it's income.

The issue is that he can't currently afford this. If he could he wouldn't have to borrow the money at extortionate rates of interest. So he's gambling that either Bury get promoted quickly or his businesses  make a lot of money pretty quickly. One or both might happen, but if they don't he's in trouble and the ground will get repossessed. 

On the other hand he could be setting up satellite companies to direct money out of the football club......

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26 minutes ago, Crusoe said:

Centre back. Has been linked in the past with Reading, Sheffield United and Wigan. Wycombe reportedly turned down a bid for him from Fleetwood.

 

Youd assume it nonsense then..... if there is one position we don't need more players in, it's centre back.

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1 minute ago, lookersstandandy said:

 

Youd assume it nonsense then..... if there is one position we don't need more players in, it's centre back.

 

Or we're allowing our name to be associated with somebody as a lever to get Wilson and Edmondson signed up without an increase on the first offer.

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